Prio Wealth Limited Partnership Decreases Stock Holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC)

Prio Wealth Limited Partnership cut its holdings in Marsh & McLennan Companies, Inc. (NYSE:MMC) by 8.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 127,311 shares of the financial services provider’s stock after selling 12,283 shares during the period. Prio Wealth Limited Partnership’s holdings in Marsh & McLennan Companies were worth $26,827,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Raymond James & Associates boosted its holdings in Marsh & McLennan Companies by 2.6% in the second quarter. Raymond James & Associates now owns 925,411 shares of the financial services provider’s stock valued at $195,003,000 after purchasing an additional 23,133 shares in the last quarter. Veritas Investment Partners UK Ltd. boosted its holdings in shares of Marsh & McLennan Companies by 16.9% in the 4th quarter. Veritas Investment Partners UK Ltd. now owns 1,404,598 shares of the financial services provider’s stock valued at $266,134,000 after buying an additional 203,017 shares in the last quarter. Nordea Investment Management AB raised its stake in Marsh & McLennan Companies by 12.4% during the 1st quarter. Nordea Investment Management AB now owns 906,976 shares of the financial services provider’s stock worth $187,218,000 after acquiring an additional 100,378 shares in the last quarter. Kinsale Capital Group Inc. lifted its position in Marsh & McLennan Companies by 26.8% in the first quarter. Kinsale Capital Group Inc. now owns 18,845 shares of the financial services provider’s stock valued at $3,882,000 after acquiring an additional 3,984 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its stake in Marsh & McLennan Companies by 8.8% in the first quarter. O Shaughnessy Asset Management LLC now owns 68,383 shares of the financial services provider’s stock valued at $14,086,000 after acquiring an additional 5,554 shares in the last quarter. 87.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on MMC shares. Roth Mkm lifted their target price on shares of Marsh & McLennan Companies from $200.00 to $220.00 and gave the company a “neutral” rating in a report on Friday, July 19th. Barclays assumed coverage on shares of Marsh & McLennan Companies in a report on Wednesday, September 4th. They set an “equal weight” rating and a $236.00 price objective on the stock. Royal Bank of Canada raised their target price on shares of Marsh & McLennan Companies from $228.00 to $232.00 and gave the company a “sector perform” rating in a report on Friday, July 19th. Bank of America boosted their price objective on shares of Marsh & McLennan Companies from $235.00 to $248.00 and gave the company a “neutral” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. increased their price objective on shares of Marsh & McLennan Companies from $210.00 to $230.00 and gave the stock a “neutral” rating in a report on Thursday, July 11th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $216.41.

Insider Activity at Marsh & McLennan Companies

In other news, SVP Paul Beswick sold 2,169 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total value of $477,180.00. Following the completion of the transaction, the senior vice president now owns 11,861 shares of the company’s stock, valued at $2,609,420. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, SVP Paul Beswick sold 2,169 shares of the business’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $220.00, for a total value of $477,180.00. Following the sale, the senior vice president now owns 11,861 shares of the company’s stock, valued at approximately $2,609,420. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Mark C. Mcgivney sold 5,200 shares of Marsh & McLennan Companies stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $225.03, for a total transaction of $1,170,156.00. Following the completion of the transaction, the chief financial officer now directly owns 33,678 shares in the company, valued at approximately $7,578,560.34. The disclosure for this sale can be found here. Insiders have sold a total of 21,735 shares of company stock worth $4,897,317 in the last ninety days. 0.30% of the stock is owned by insiders.

Marsh & McLennan Companies Trading Down 0.1 %

NYSE:MMC opened at $222.79 on Wednesday. Marsh & McLennan Companies, Inc. has a one year low of $184.02 and a one year high of $232.32. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.17 and a current ratio of 1.17. The stock has a market cap of $109.77 billion, a price-to-earnings ratio of 28.27, a price-to-earnings-growth ratio of 3.13 and a beta of 0.94. The business’s 50-day simple moving average is $224.01 and its 200 day simple moving average is $213.28.

Marsh & McLennan Companies (NYSE:MMC) last announced its quarterly earnings data on Thursday, July 18th. The financial services provider reported $2.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.40 by $0.01. The firm had revenue of $6.22 billion for the quarter, compared to analysts’ expectations of $6.31 billion. Marsh & McLennan Companies had a return on equity of 33.92% and a net margin of 16.97%. The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period last year, the business posted $2.20 earnings per share. As a group, sell-side analysts predict that Marsh & McLennan Companies, Inc. will post 8.74 earnings per share for the current fiscal year.

Marsh & McLennan Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Shareholders of record on Friday, October 4th will be given a $0.815 dividend. This represents a $3.26 annualized dividend and a yield of 1.46%. The ex-dividend date is Friday, October 4th. Marsh & McLennan Companies’s dividend payout ratio is presently 41.37%.

Marsh & McLennan Companies Profile

Marsh & McLennan Companies, Inc, a professional services company, provides advice and solutions to clients in the areas of risk, strategy, and people worldwide. It operates through Risk and Insurance Services, and Consulting segments. The Risk and Insurance Services segment offers risk management services, such as risk advice, risk transfer, and risk control and mitigation solutions, as well as insurance and reinsurance broking, strategic advisory services, and analytics solutions, and insurance program management services.